Meeder Asset Management Inc. Boosts Holdings in AutoZone, Inc. (NYSE:AZO)

Meeder Asset Management Inc. grew its stake in shares of AutoZone, Inc. (NYSE:AZO) by 50.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15 shares of the company’s stock after purchasing an additional 5 shares during the period. Meeder Asset Management Inc.’s holdings in AutoZone were worth $44,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in AZO. Norges Bank purchased a new stake in shares of AutoZone during the 4th quarter worth $678,350,000. PineStone Asset Management Inc. raised its stake in shares of AutoZone by 137.6% during the 2nd quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock worth $918,998,000 after buying an additional 179,543 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of AutoZone during the 2nd quarter worth $424,000. Captrust Financial Advisors raised its stake in shares of AutoZone by 564.2% during the 1st quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock worth $479,338,000 after buying an additional 129,193 shares during the last quarter. Finally, Baillie Gifford & Co. raised its stake in shares of AutoZone by 2,714.8% during the 2nd quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock worth $356,267,000 after buying an additional 115,924 shares during the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Price Performance

NYSE AZO opened at $3,123.36 on Monday. AutoZone, Inc. has a 12 month low of $2,375.35 and a 12 month high of $3,256.37. The company has a 50-day moving average of $3,085.95 and a 200-day moving average of $3,010.20. The company has a market cap of $53.36 billion, a P/E ratio of 21.60, a P/E/G ratio of 1.45 and a beta of 0.71.

Analysts Set New Price Targets

Several research firms have recently issued reports on AZO. Oppenheimer reaffirmed a “market perform” rating and set a $2,600.00 price target on shares of AutoZone in a research note on Wednesday, June 26th. Citigroup cut their price target on AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. UBS Group cut their price target on AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Guggenheim lifted their price target on AutoZone from $3,150.00 to $3,225.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Finally, StockNews.com raised AutoZone from a “hold” rating to a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and an average price target of $3,112.71.

AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.